ADP AND ACP TESTING OPTIONS Clause Samples

ADP AND ACP TESTING OPTIONS. Part A. ACP Test and Elective Deferrals: Will Elective Deferrals under this Plan (and any other plan of the Employer, as provided by regulations) be taken into account, and included as Contribution Percentage Amounts for purposes of performing the Average Contribution Percentage (ACP) test? (Choose one):
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ADP AND ACP TESTING OPTIONS. PART A. ACP Test and Elective Deferrals: Will Elective Deferrals under this Plan (and any other plan of the Employer, as provided by regulations) be taken into account, and included as Contribution Percentage Amounts for purposes of performing the Average Contribution Percentage (ACP) test? (CHOOSE ONE) OPTION 1: [ ] No. OPTION 2: [X] Yes, in the following amounts (CHOOSE ONE): SUBOPTION (a): [X] Only such Elective Deferrals that are needed to meet the Average Contribution Percentage test. SUBOPTION (b): [ ] All Elective Deferrals. NOTE: IF NO OPTION IS SELECTED, OPTION 1 WILL BE DEEMED TO BE SELECTED. PART B. ACP Test and Qualified Nonelective Contributions Will Qualified Nonelective Contributions under this Plan (and any other plan of the Employer, as provided by regulations) be taken into account, and included as Contribution Percentage Amounts for purposes of performing the Average Contribution Percentage (ACP) test? (CHOOSE ONE) OPTION 1: [ ] No. OPTION 2: [X] Yes, in the following amounts (CHOOSE ONE): SUBOPTION (a): [X] Only such Qualified Nonelective Contributions that are needed to meet the Average Contribution Percentage test. SUBOPTION (b): [ ] All Qualified Nonelective Contributions. NOTE: IF NO OPTION IS SELECTED, OPTION 1 WILL BE DEEMED TO BE SELECTED. PART C. ADP Test and Qualified Matching Contributions Will Qualified Matching Contributions under this Plan (or any other plan of the Employer, as provided by regulations) be taken into account as Elective Deferrals for purposes of calculating Actual Deferral Percentages when performing the Actual Deferral Percentage (ADP) test? (CHOOSE ONE) OPTION 1: [ ] No. OPTION 2: [X] Yes, in the following amounts (CHOOSE ONE): SUBOPTION (a): [X] Only such Qualified Matching Contribution that are needed to meet the ADP test. SUBOPTION (b): [ ] All such Qualified Matching Contributions. NOTE: IF NO OPTION IS SELECTED, OPTION 1 WILL BE DEEMED TO BE SELECTED.
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ADP AND ACP TESTING OPTIONS. PART A. ACP TEST AND ELECTIVE DEFERRALS: Will Elective Deferrals under this Plan (and any other plan of the Employer, as provided by regulations) be taken into account, and included as Contribution Percentage Amounts for purposes of performing the Average Contribution percentage (ACP) test? (Choose one): OPTION 1. [ ] No. OPTION 2. [X] Yes, in the following amounts (Choose one): SUBOPTION (a): [X] Only such Elective Deferrals that are needed to meet the Average Contribution Percentage test. SUBOPTION (b): [ ] All Elective Deferrals.
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ADP AND ACP TESTING OPTIONS. Part A. ACP Test and Elective Deferrals: Will Elective Deferrals under this Plan (and any other plan of the Employer, as provided by regulations) be taken into account, and included as Contribution Percentage Amounts for purposes of performing the Average Contribution Percentage (ACP) test? (choose one) Option 1: _X_ No Option 2: ___ Yes, in the following amounts (choose one) Suboption(a) __ Only such Elective Deferrals that are needed to meet the Average Contribution Percentage test. Suboption (b) __ All Elective Deferrals. Note: If no option is selected, Option 1 will be deemed to be selected.
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Related to ADP AND ACP TESTING OPTIONS

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Annual Equity Awards (i) TCCC shall not grant any equity-based awards to any Continuing Employee from the date of this Agreement through the Closing other than equity-based awards made (A) to newly hired employees, within one year following the employee’s date of hire, that are in the ordinary course of business and in accordance with TCCC and the Nordic Companies’ past practice of compensating newly hired employees or (B) with the consent of CCE, which consent shall not be unreasonably, withheld, conditioned or delayed. Notwithstanding the foregoing, in the event that as of December 16, 2010, the parties reasonably determine that the Closing shall not occur prior to March 15, 2011, following consultation with CCE, TCCC may make grants of equity-based awards no later than March 15, 2011 to Continuing Employees that are in accordance with past practice and guidelines with respect to annual grants made most recently in February 2010 to the Continuing Employees and that do not have an aggregate value as of the grant date (based on a reasonable Black-Scholes valuation or grant date fair value methodology, as applicable, to be agreed upon between CCE and TCCC) that is greater than the aggregate value as of the grant date of the aggregate annual equity awards made by TCCC in February 2010 to the Continuing Employees. (ii) To the extent that (x) the Closing occurs during the period beginning on October 15, 2010 and ending on December 15, 2010 (the “Interim Period”), and (y) CCE makes an annual grant of equity-based awards during such Interim Period to eligible CCE employees, Splitco shall make a grant of equity-based awards to the Continuing Employees immediately following the Closing Date, with such grant made in a manner consistent with TCCC’s target award levels, award ranges, and performance adjustment criteria employed in such February 2010 annual equity grant by TCCC; provided, however, that such grants shall only be made to those Continuing Employees who were eligible to receive an annual equity grant in February 2010, or would be eligible to receive an annual equity grant in February 2011; and provided, further, that, in no event shall such grant have an aggregate value as of the grant date (based on a reasonable Black-Scholes valuation or grant date fair value methodology, as applicable, to be agreed upon between TCCC and Splitco) that is greater than the aggregate value on the grant date of the aggregate annual equity awards made by TCCC in February 2010 to such employees. (iii) To the extent that the Closing occurs after December 15, 2010, at such time after the Closing as Splitco makes its regular annual equity awards to its employees in 2011, Splitco shall provide equity-based awards to Continuing Employees who hold a position that was (or, in the case of a new hire, would have been) eligible to receive an equity grant from TCCC in 2010, having a substantially comparable value in the aggregate, for a comparable number of employees, as of the grant date (based on a reasonable Black-Scholes value for stock option grants and based on the grant date fair value for whole share-based awards) as awarded by TCCC to employees providing services to the Nordic Companies in February 2010, with such grant made in a manner consistent with TCCC’s target award levels, award ranges, and performance adjustment criteria employed in such February 2010 annual equity grant by TCCC; provided, however, that Splitco shall have no obligation to replicate the form of award or the terms and conditions of awards previously granted by TCCC, including, without limitation, the number of shares to be subject to such Splitco equity-based awards and the vesting conditions and exercise or purchase price of such Splitco equity-based awards.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.